a branch of the firm's financing bank. Coherently with the mechanism hypothesized, we find a stronger effect for closer … firm-bank relationships, and when banks have established their branches abroad over a longer time period …

-to Capital Markets Union must in no way weaken the classic bank loan and bypass the needs of companies. What is important in the …

We draw on stylized facts from the finance literature to build a model where altering the relative costs of bank and …